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Citibank Competitive Overview
Citibank Competitive Overview
Competitive Overview
According to Forbes.com, Citigroup is the 8 th largest bank in the whole
world, measured by a composite score of revenues, profits, assets and
market value. Citigroup was the largest company and bank in the world
before the global financial crisis in 2008. Citibank suffer great loss during
the recession and the competitors took over Citigroup place such as
JPMorgan Chase, Wells Fargo and HSBC Holdings.
Comparing Citibank to its competitors, the saving account interest rates
and monthly fees are quite similar; the difference is the minimum balance
requirement where Citibank charges a relatively high amount ($500)
whereas others competitor charges a much more lower fee or not charging
at all.
For checking account, Citibank and its competitors interest rate and
monthly fees are about the same. Citibank does not charge fee when
customer withdraw from an ATM owned by another bank whereas its
competitor will charge $2 fee for using an out-of-network ATM.
2. Comparison between different financial institution
United
Citibank
HSBC
Wells
BOA
States
Fargo
Bank
Banking
Y
Y
Y
Y
Credit
Y
Y
Y
Y
Cards
Lending
Y
Y
Y
Y
Investmen
Y
Y
Y
Y
t
Insurance
Y
Y
Y
N
AE
Chase
N
Y
Y
Y
N
N
Y
Y